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300,000 iPads sold on Day-1 in a market under creation

business Updated: Apr 06, 2010 21:41 IST

Apple said on Monday that it had sold more than 300,000 iPads on the device’s first day on the market, a figure including preorders. That met the expectations of financial analysts who were keeping tabs on the release of the highly anticipated tablet computer.

“It feels great to have the iPad launched into the world,” said Steven P. Jobs, Apple’s chief executive, in a statement. “It’s going to be a game changer.”

Because Apple is hoping to popularise a new kind of computing device, one that combines elements of a laptop and smartphone, acceptance among consumers is likely to be slower than with previous Apple devices, said Michael Abramsky, an analyst with RBC Capital.

“This device is the leading edge in a market that is still being created, so lots of folks are still trying to figure out the relevance of the iPad.”

Some buyers may be waiting for future versions of the iPad, perhaps with a camera or other new features, Abramsky said. His firm had been expecting Apple to sell 300,000 to 400,000 iPads over the whole weekend.

The version of the iPad that went on sale on Saturday can connect to the Internet only via a Wi-Fi connection, leading analysts to wonder whether some consumers are waiting for the 3G version, which will work over a mobile network.

“This is still the warm-ups,” said Craig Moffett, a senior analyst with Sanford C. Bernstein & Company. “The big unanswered question that remains is how many people are waiting for the 3G model to be released before committing to buy.”

Apple has said it plans to release 3G iPads this month, which will cost $629 to $829 depending on storage size.
Apple said iPad users had downloaded more than one million applications from the App Store and more than 250,000 electronic books from iBookstore on Saturday.